Weak manufacturing threatens consumer-fueled growth
NEW YORK (AP) — Manufacturers are facing stunted growth amid the damaging trade war between the U.S. and China, and that has some on Wall Street worried that it will crimp the consumer-fueled economy. Factory output has been slowing all year, and suffered its first contraction in three years during August. For now consumers are still doing much of the lifting for the U.S. economy. But a trade-war-damaged manufacturing sector could eventually dash consumer confidence and spending.
‘Middle of the herd’ no more: Amazon tackles climate change
NEW YORK (AP) — Online shopping giant Amazon has revealed a carbon footprint that rivals that of a small country, and is vowing to reduce the damage to the planet by cutting its use of fossil fuels. The company ships more than a 10 billion items a year on fuel-guzzling planes and trucks, and says it has ordered 100,000 electric vans that will start delivering packages in 2021. It also plans to have 100% of its energy use come from solar panels and other renewable energy by 2030. That’s up from 40% today.
Airbnb says it will go public in 2020
NEW YORK (AP) — Airbnb Inc. said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the hotel business. Airbnb disclosed the news in a brief statement.
Walgreens, Google affiliate to launch drone delivery test
Walgreens and a Google affiliate are testing drone deliveries that can put drugstore products on customer doorsteps minutes after being ordered. The companies said Thursday that snacks like Goldfish crackers or gummy bears as well as aspirin for a sick child will be delivered starting next month in Christiansburg, Virginia, by a 10-pound drone that flies as fast as 70 miles per hour.
California promises fight to keep auto emission authority
SACRAMENTO, Calif. (AP) — The Trump administration has decided to stop California from setting its own emission standards for cars and trucks. California officials have vowed to fight in court. That lawsuit could last years. In the meantime, California regulators are considering ways to reduce emissions. Those include strengthening limits on refinery emissions and imposing roadway pricing, which could include higher tolls during rush hour.
AP Source: GM’s offer to UAW would add lower-paying jobs
DETOIT (AP) — A person briefed on the matter says a General Motors offer to invest $7 billion in U.S. facilities includes $2 billion from joint ventures and suppliers for new plants that would pay workers less than the top union wage. The United Auto Workers wants to add jobs with the top pay rate of $30 per hour. GM’s offer is a major issue that could hold up a deal with the UAW to end a four-day-old nationwide strike.
Pelosi offers Medicare negotiation plan to curb drug prices
WASHINGTON (AP) — House Speaker Nancy Pelosi seems to be trying to seize the agenda on a top consumer issue — prescription drug prices. She’s announced an ambitious plan that would allow Medicare to negotiate prices for seniors and younger people. The plan also would limit copays for seniors covered by Medicare’s “Part D” prescription drug program to $2,000. But a top GOP senator says the plan has “no chance —zero, zip, nada” of passing.
Senate tech critic to Facebook CEO: Sell WhatsApp, Instagram
WASHINGTON (AP) — The Senate’s most vocal critic of the tech industry has offered a challenge to Facebook CEO Mark Zuckerberg: Sell your WhatsApp and Instagram properties to prove you’re serious about protecting data privacy. It may have been more than Zuckerberg expected from his private meeting with Sen. Josh Hawley, a conservative Republican from Missouri, in his Capitol Hill office. Zuckerberg left the meeting – one of several with lawmakers on Capitol Hill – without answering questions from reporters.
How to navigate new privacy features in Apple iPhone update
NEW YORK (AP) — Apple’s iOS 13 software update comes with plenty of privacy enhancements — though in some cases, you need to take the time to understand how they work. Among the changes: You’ll be able to sign in to third-party services with your Apple ID account rather than Facebook’s or Google’s. You’ll also get more notices and warnings about apps tapping location data. The free update is available for existing iPhones on Thursday and will ship with new models out Friday.
Can green investment help relaunch Germany’s economy?
FRANKFURT, Germany (AP) — A recession looms for Germany and the European Central Bank is pleading for the government to spend more to revitalize economic growth. Yet despite having the luxury of borrowing money for nothing, the German government is keeping tight control on its finances.
US stock indexes finished mixed after early rally fades
NEW YORK (AP) — Major U.S. stock indexes ended mixed Thursday after an early rally lost its strength toward the end of the day. The S&P 500 managed to hold on to a tiny gain that extended its winning streak to a third day. Gains in health care, technology, utilities and other sectors outweighed losses elsewhere in the market. Bond yields were little changed. The market rallied in the early going on a batch of encouraging economic reports.
The S&P 500 index rose 0.06 of a point, or less than 0.1%, to 3,006.79. The Dow Jones Industrial Average slid 52.29 points, or 0.2%, to 27,094.79. The Nasdaq added 5.49 points, or 0.1%, to 8,182.88. The Russell 2000 index of smaller company stocks shed 6.87 points, or 0.4%, to 1,561.47.